In a monumental move towards bolstering the synergy between Tether and Telegram’s Web3 ecosystem, the renowned stablecoin operator has unfurled its flagship assets, Tether USDT and Tether Gold (XAUT), onto The Open Network (TON) blockchain.

This groundbreaking announcement, made on April 19, marked a pivotal moment in the collaboration between Tether and Telegram, as highlighted during the keynote addresses delivered by Tether CEO Paolo Ardoino and Telegram founder Pavel Durov at the esteemed Token2049 crypto event held in Dubai.

The integration of Tether stablecoins onto the TON blockchain signifies a strategic alignment with the ethos of an open and decentralized internet espoused by both TON and Tether. Paolo Ardoino emphasized this shared vision, stating that the launch of USDT and XAUT on TON will facilitate seamless value transfer, amplifying liquidity and activity while providing users with a financial ecosystem comparable to traditional finance.

Moreover, Tether’s unveiling of four new business divisions—Tether Data, Tether Finance, Tether Power, and Tether Edu—underscores the brand's commitment to innovation and diversification within the crypto landscape.

This significant development not only broadens Tether’s footprint across 15 blockchains, including prominent platforms like Tron and Ethereum but also propels the TON network to new heights, recently surpassing Dogecoin to claim the ninth spot in the cryptocurrency market rankings by value.

The integration of USDT and XAUT onto the TON blockchain is poised to revolutionize peer-to-peer payments, particularly within Telegram’s vast user base exceeding 900 million worldwide. With TON’s seamless fiat-to-crypto transfers and imminent off-ramps to bank cards and accounts, the stage is set for a transformative shift in global payments infrastructure.

Jack Booth, the marketing head of TON Foundation, elucidated that the TON ecosystem's inherent capabilities will usher in a new era where mass adoption of crypto for global payments becomes a tangible reality.

This isn’t the maiden encounter between Tether and the TON ecosystem; since 2023, USDT has been a cornerstone cryptocurrency available on Wallet, a third-party custodial wallet within the Telegram ecosystem, alongside stalwarts like Bitcoin and Toncoin (TON).

While the Tron network currently hosts the majority of USDT transactions, the introduction of TON-based USDT onto Wallet offers users yet another avenue for seamless crypto transactions, reinforcing Tether’s commitment to accessibility and versatility within the evolving crypto landscape.

The unveiling of Tether's integration with the TON blockchain follows closely on the heels of another significant stride in Tether's evolution: the introduction of a groundbreaking recovery tool in March 2024. This tool empowers users to effortlessly migrate USDT across various blockchains, further enhancing accessibility and interoperability within the Tether ecosystem.

Notably, Tether's trajectory has been marked by remarkable milestones, including a historic surge in market capitalization. On March 4, Tether's USDT stablecoin soared to an unprecedented market cap, breaching the monumental $100 billion mark. This milestone underscores the unwavering demand for stablecoins and Tether's pivotal role in facilitating liquidity and stability within the crypto markets.

Against this backdrop of unprecedented growth and innovation, the integration of Tether's USDT and XAUT onto the TON blockchain signifies a strategic expansion aimed at fostering seamless value transfer and enriching user experiences within the burgeoning Web3 ecosystem.